Tata Motors' Q2 boosted by rise in Jaguar Land Rover sales

Tata Motors' Q2 boosted by rise in Jaguar Land Rover sales

Tata Motors' Q2 boosted by rise in Jaguar Land Rover sales

The Tata Motors Group global wholesales in October 2017, including Jaguar Land Rover, were at 1,03,761 nos., higher by 2.7%, over October 2016. Tata Motor's profit nearly tripled to Rs2,480 crore ($382 million) in the July-September quarter, up from Rs830 crore a year earlier, on the back of a better product mix. according to a filing.

Revenue could have been higher by ₹2,393 crore, and profit gained an additional ₹112 crore, had the pound sterling maintained its year earlier value against the rupee, Tata Motors said in a statement. Consolidated net profit jumped 195.04% to Rs 2502 crore on 10.34% growth in revenue (net of excise) to Rs 70156 crore in Q2 September 2017 over Q2 September 2016.

The passenger vehicles rose 14.4% against the corresponding quarter a year ago. The second-quarter retail sales at JLR grew 5% to 1.49 lakh units, with its top market China clocking an increase of 27%.

In passenger vehicles business, new products like Tiago, Tigor and Hexa continue to drive sales momentum.

Jaguar Land Rover (JLR), which has been driving Tata Motors' profits for several years, expects sales in the UK and United States to soften because of competition but is confident of growth in China, JLR CEO Ralf Speth told reporters in Mumbai.

Tata Motors is a market leader in commercial vehicles in India. "Think about Brexit, think about the USA at the current moment", he said. JLR recorded a 5.8% year on year increase in wholesale volumes for Q2 2018 driven by China (up 19%) and the United Kingdom. Revenues stood at 11.9 billion while pre- tax profit was 980 million (including one time of 437 million relating to changes made to pension plans in Q1 FY 18).

Guenter Butschek, managing director and chief executive, Tata Motors, said the "turn-around" plan of the company has begun showing positive results as it has achieved highest sales in the passenger vehicles (PV) since November 2012 and commercial vehicles (CV) since June 2014. Revenue grew more than 11% to 701.56 billion rupees.

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